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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) March 9, 1955 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net Increases of $88 million in loans to sales finance companies, $20 million to manufacturers of textiles, apparel, and leather products, $16 million to the wholesale and retail trade, and $12 million to the manufacturers of metals and metal products were the principal factors in the $115 million increase in commercial, industrial, and agricultural loans at weekly reporting member banks during the week ended March 2. Partly offsetting decreases included $26 million in loans to commodity dealers and $9 million to the construction industry. Changes in loans during the week and since the year-end are shown below; the third column shows the changes during the comparable period last year: Business of Borrower Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, & rubber Other manufacturing and mining Trade — wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction Other types of business Cumulative since year-end Week Dec. 29, 195% Dec. 30, 1953 ended . to . to Mar. 2$J Mar. 2, 1955%/ Mar. 3, 1954 (in millions of dollars) - 2 + 20 +12 + 3 + 4 + 16 -238 +138 +4? +111 3 - 86 -192 + 60 -146 - 96 - 34 -140 - 26 + 88 -154 +96 - 89 -236 + 9 - 9 + 4 - 11 + 4 - 34 - 49 - 7 - 45 Classified changes - net Unclassified changes - net +117 - 2 -130 - 5 -974 + 4o Net change in commercial, industrial, and agricultural loans +115 -135 -934 g/ Preliminaryj see footnote on attached table. In addition to the usual weekly table, a monthly table is attached showing changes during February compared with the preceding month and with February 1954, and also showing changes during the past twelve months. The changes during February were similar to those during January and a year ago February in the following business categories: there were further increases in loans to manufacturers of textiles, apparel, and leather products, to manufacturers of metals and metal products and to the construction industry, and further repayments by manufacturers of food, liquor, and tobacco products, by commodity dealers, and by public utilities. Loans to the wholesale and retail trade and to "other" types of business increased during February in contrast to decreases in the preceding month and in February a year ago. Loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products showed the largest monthly increase in this business category since the series was started in the spring of 1951; this large increase compares with small changes in both the preceding months and in February a year ago. CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY BEPORTIEd MEMBER BASKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, MARCH 2, 1955 H.12(a) Business of Borrower Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products (including machinery & transportation equipment) Petroleum, coal, chemicals, and rubber Other manufacturing and mining Trade: Wholesale Retail tricts£/iBostotl New Phila- J Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas San Francisco Louis apolis City York delnhiai land mond (in millions of dollars) - 1.6 +19.6 + .1 + 3.7 . .8 + 3.4 + 8.4 + 2.0 +11.8 + 2.6 + 3.5 .2 + 1-7 + + 1.6 - 1.6 + 1.2 + .4 + ( - ) ; + Q ^+15.8^ + .9 - .5 • 5 + 2.2 - Commodity dealers -25.6 ; - 3.2 - 5.8 + Sales finance companies +88.0 Public utilities (including transportation) + 8.5 - .5 + 8.6 - Construction - 8.9 + • 3 - 1.1 All other types of business + 3-7 Net change in classified loans l/ Unclassified changes - net Net change in commercial, industrial, and agricultural loans +117.4 .6 •5 .2 .4 .1 - -9 + + 1.1 + .1 1-5 .4 + .3 + .4 .1 + 1.3 •3 • 5 - .5 + 4.8 + 1.0 .7 + 1.7 + + .2 + .5 + .6 + 1.3 .9 - 2.0 + 2.4 .5 .2 •3 •7 .2 + 1.0 + 1.4 .4 + .1 + 3.0 + .2 + .7 + 1.2 + 1.9 (. -- ( + + 1.9 + 1.6 + 1.4 -11.6 - 1.4 + 1-3 + + 1.0 + 2.7 + — + - - .2 - .6 - .4 - •» •* .1 NOT - - 2.2 - AVAIL- 7) *7) 2.1 + 7.4 + 4.1 + 1.3 + 4.0 .1 + 1.5 - .9 - 2.9 .1 + .4 + 4.1 - .8 + .4 + .9 + • 5 + 1.2 - 6.4 + .4 - 1.3 + 3.2 + 7.4 - .2 + .3 + +17.0 + 1.9 + 7.9 + 8.8 + .4 + 6.5 - 3-3 - 3.7 ABLE .8 - • 7 - 1.5 7.3 + 2.0 + 1.9 - 4.4 + 1.9 +11.0 + + 2-7 +52.4 + 7.0 - .6 •9 + 2.6 + .1 - .4 + 1.5 + .5 +70.4 + 8.3 - .1 + + 1.6 - 3.5 .6 - •3 - .4 4.2 -- - - - 2.4 + 2.5 + 7-6 - 2.3 - 6.0 + l.l 11.9 + 7-2 - 8.4 + 1.5 4.0 +14.0 +115-0 + 2.0 +78.0 + 6.0 +11.0 + 3.0 - 4.0 +16.0 - 8.0 + 8.0 - 7.0 - 4.0 +14.0 - p/ Preliminary; final totals will appear in the F. R. Bulletin and San Francisco District figures appear in a release of the Reserve. Bank. 1/ About 220 weekly reporting member banks are reporting changes in their larger loans as to industry; these banks hold over 90 per cent of total commercial and industrial loans of all weekly reporting member banks and nearly 7® P e r cent of those of all commercial banks. H.12(b) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY Business of Borrower 4 weeks 4 weeks ended ended Jan. 26, 1955 Feb. 24, 1954 3 (In million; of dollars) 12 months ended Feb. 23, 1955 -118.5 + 28.4 - 94.3 + 46.2 - 51.5 + 88.2 + 28.5 +109.0 + 3.8 + 6.5 •2 -10.1 + + - 5.6 7-9 2.9 -944.1 +282.0 - 35-3 Trade — wholesale and retail + 13.3 -115.5 - 32.2 +117.2 Commodity dealers - 46.6 - 81.6 - 52.4 +136.2 Sales finance companies + 2.8 + 5.0 - 82.6 +100.3 Public utilities (including transportation) - 10.5 - 9.4 - 33-5 - 70.2 Construction + + 3.8 + 3.4 +172.7 All other types of business + 42.3 - 79.8 - 2.3 +280.7 Net change in classified loans l/ +123.6 -371.4 -237.1 + 76.2 Unclassified changes - net + 38 • 4 - 40 .6 +181.1 -286.2 Net change in commercial, industrial, and agricultural loans +162.0 -412.0 -210.0 1/ See footnote on preceding table regarding current coverage. 9.0 O -118.1 + 90.1 & 1 Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products (including machinery and transportation equipment) Petroleum, coal, chemicals, and rubber Other manufacturing and mining 4 weeks ended Feb. 23, 1955
